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All questions of Class 10 NCERT Economics for OPSC OCS (Odisha) Exam

Which of the following things money cannot buy?
  • a)
    Building
  • b)
    Pollution free environment
  • c)
    Flowers
  • d)
    Books
Correct answer is option 'B'. Can you explain this answer?

Pooja Shah answered
Money cannot buy all the goods and services that a person may need to live well. Income by itself is not a completely adequate indicator of material goods and services that citizens are able to use. For example, normally, money cannot buy a pollution-free environment or ensure that a person gets unadulterated medicines, unless a person can afford to shift to a community that already has all these things. Money may also not be able to protect individual from infections, disease, unless the whole of our community takes preventive steps.

Which State in India has the lowest Infant Mortality Rate?
  • a)
    Maharashtra
  • b)
    Goa
  • c)
    Gujarat
  • d)
    Kerala
Correct answer is 'D'. Can you explain this answer?

Ankita Basak answered
Among the states, Goa and Manipur have the lowest Infant Mortality Rate (IMR) of 11, followed by Kerala with 12 deaths per 1,000 live births. Madhya Pradesh has the highest IMR of 59 per 1,000 live births followed by Uttar Pradesh and Odisha with 57 each.

Pick the odd one out:
  • a)
    Tiger
  • b)
    Cow
  • c)
    Lion
  • d)
    Wolf
Correct answer is option 'B'. Can you explain this answer?

Shubham Basu answered
The Odd One Out: Explanation

Introduction: The given options are Tiger, Cow, Lion, and Wolf. We need to identify the odd one out among these four options.

Tiger: Tiger is a wild animal that belongs to the cat family. It is known for its strength, speed, and agility. Tigers are carnivorous animals and they hunt other animals for food.

Cow: Cow is a domestic animal that is widely used for milk and meat production. It is considered as a sacred animal in India and is worshipped by Hindus.

Lion: Lion is a wild animal that belongs to the cat family. It is known for its majestic appearance and is referred to as the 'King of the Jungle'. Lions are carnivorous animals and they hunt other animals for food.

Wolf: Wolf is a wild animal that belongs to the dog family. It is known for its hunting skills and is often associated with howling at the moon. Wolves are carnivorous animals and they hunt other animals for food.

The Odd One Out: The odd one out among these four options is Cow. The reason for this is that Cow is the only domestic animal among the given options whereas the other three options are wild animals. Moreover, Cow is herbivorous and does not hunt other animals for food unlike the other three options which are carnivorous.

Conclusion: Therefore, the correct answer is option 'B' Cow, as it is the odd one out among the given options.

Sustainable Development focuses on more use of 
  • a)
    Renewable Resources
  • b)
    Abiotic Resources
  • c)
    Agricultural Resources
  • d)
    Natural Resources
Correct answer is option 'A'. Can you explain this answer?

Raghav Bansal answered
Sustainable development is a development that meets the needs of the present, without compromising the ability of future generations to meet their own needs.”

A substitute of cash and cheque is
  • a)
    credit card
  • b)
    coin
  • c)
    currency
  • d)
    demand deposite
Correct answer is option 'A'. Can you explain this answer?

Anita Menon answered
There are many substitute to cash and cheques. Credit card: Cash paid to the bank after using it in advance through credit card. Debit Cards: Prepaid card used to transfer money but to limited amount with very low fees and reliable way.

National Consumer Day is celebrated in India :
  • a)
    24 December
  • b)
    25 December
  • c)
    26 December
  • d)
    27 December
Correct answer is option 'A'. Can you explain this answer?

Krishna Iyer answered
 Every year, 24th of December is observed as National Consumer Day in India. The theme of 2019 is “Alternate consumer grievance/dispute redressal”. On this day the Consumer Protection Act, 1986 had received the assent of the President and came into effect.

ATM is an example of
  • a)
    primary sector
  • b)
    secondary sector
  • c)
    tertiary sector
  • d)
    all of these
Correct answer is option 'C'. Can you explain this answer?

Rohit Sharma answered
ATM is an example of tertiary sector which is also known as service sector. ATM is a machine whose full name is Automated Teller Machine. It was invented in 1960 by John Shepherd - Barron.

Liberalisation is..............
  • a)
    more trade
  • b)
    removing barriers or restrictions set by the government
  • c)
    checking barriers by the government
  • d)
    help by the government
Correct answer is option 'B'. Can you explain this answer?

your frnd... answered
Liberalisation is the process or means of the elimination of the control of the state over economic activities. It provides greater autonomy to the business enterprises in decision-making and eliminates government interference.

Barter system is based on
  • a)
    double coincidence of wants
  • b)
    single coincidence of wants
  • c)
    Both (a) and (b)
  • d)
    none of these
Correct answer is option 'A'. Can you explain this answer?

Ananya Das answered
The coincidence of wants (often known as double coincidence of wants) is an economic phenomenon where two parties, each hold an item the other wants, so they exchange these items directly without any monetary medium. 

Kerala has low infant Mortality Rate because:
  • a)
    it has good climate condition
  • b)
    it has adequate infrastructure
  • c)
    it has adequate provision of basic health and educational facilities
  • d)
    it has poor net attendance ratio
Correct answer is option 'C'. Can you explain this answer?

Vikram Kapoor answered
Kerala has low infant mortality rate because it mainly concentrates on human resource development. It has also made many provisions on developing the quality of education and medical facilities.

Assertion: World Bank has classified countries into rich and low income based on per capita income.
Reason: Per capita income is the only attribute to measure the level of development for a nation or a state
  • a)
    Both A and R are true and R is the correct explanation of A
  • b)
    Both A and R are true and R is the not correct explanation of A
  • c)
    A is correct but R is wrong.
  • d)
     A is wrong but R is correct
Correct answer is option 'C'. Can you explain this answer?

Pooja Shah answered
For comparing the developmental level of different countries, their income is considered to be one of the most important attributes. The countries with higher income are more developed than others with less income. For comparison between countries, we consider the per capita income of each country. In World Development Report, countries are recognised as rich country and low-income country according to their per capita Income. With more income, people Will be able to get more things they need. So, greater income itself is considered to be an important criterion for the development of a country. But other attributes are also there like High per capita income,Low incidence of poverty,High standard of living,Narrow income inequalities, Low growth rate of population, Low level of unemployment and Infrastructural capabilities are present to measure level of development.

Can you explain the answer of this question below:

Which country among the following is a developing country?

  • A:

    India

  • B:

     Japan

  • C:

     France

  • D:

     Sweden

The answer is a.

Niyati nayar answered
Introduction:
The question asks which among the given countries is a developing country.

Explanation:
Out of the given options, India is a developing country. Here's why:
- Developing countries are those which are still in the process of development and have a lower level of economic development as compared to developed countries.
- India is still developing and has a lower level of economic development as compared to developed countries like Japan, France, and Sweden.
- India has a large population, a diverse economy, and many social and economic challenges that it is still working to overcome.
- India's gross domestic product (GDP) per capita is also lower than that of developed countries, indicating a lower level of economic development.

Conclusion:
In conclusion, India is a developing country out of the given options. It is still in the process of development and has a lower level of economic development as compared to developed countries like Japan, France, and Sweden.

Rapid Integration or interconnection between countries is known as:
  • a)
    Privatisation
  • b)
    Globalisation
  • c)
    Liberalisation
  • d)
    Socialisation
Correct answer is option 'B'. Can you explain this answer?

Shreya Seth answered
Correct answer is option B that is Globalisation .
Because more and more goods and services , investments and technology are moving between countries.
there is one more way in which the countries can be connected . This is through the movement of people between countries. MNCs are playing major role in globalisation process .

Assertion : Barter system has limitation of double coincidence of wants.
Reason: Money removes the problem of double coincidence of wants.
  • a)
    Both A and R are true and R is the correct explanation of A
  • b)
    Both A and R are true but R is not the correct explanation of A
  • c)
    A is correct but R is wrong
  • d)
    A is wrong but R is correct. 
Correct answer is option 'A'. Can you explain this answer?

Aditya Shah answered
We know that in barter system there is a coincident to get a person who want a thing in exchange of what whereas the modern form of money is required by all for the simple exchange between two peoples done for the goods and money as money is required by all for getting goods what they want in exchange of money ,money plays an important role to remove that double coincidence of want such as in barter system.

Assertion: The modern currency is without any use of its own.
Reason: Money in India is printed and circulated by RBI.
  • a)
    Both A and R are true and R is the correct explanation of A .
  • b)
    Both A and R are true but R is not the correct explanation of A.
  • c)
    A is correct but R is wrong.
  • d)
    A is wrong but R is correct
Correct answer is option 'B'. Can you explain this answer?

Amit Kumar answered
The modern currency is without any use of its own because it is not made of precious metals such as gold or silver but included paper notes or coins. It is actually used as a medium of exchange in order to buy or sell something. so reason given is incorrect that Money in India is printed and circulated by RBI.

Which is not a function of PDS ?
  • a)
    Control Hoarding
  • b)
    Control Prices
  • c)
    Control over charging
  • d)
    Consumer Redressal
Correct answer is option 'D'. Can you explain this answer?

Kiran Mehta answered
The consumer redressal is the right given to the consumer to meet the consumer court regarding any wrong practises done by the producers such as adulteration which affect human health and hence it is a right given to consumers as a result it is not the function of the public distribution system(PDS).The public distribution system helps in the distribution of food grains from the Godowns to rationshops.

Money is a measure of
  • a)
    Value
  • b)
    Currency
  • c)
    Transfer
  • d)
    All of these
Correct answer is option 'A'. Can you explain this answer?

Pooja Shah answered
Money serves four basic functions: it is a unit of account, it's a store of value, it is a medium of exchange and finally, it is a standard of deferred payment.We consider money as a measure of currency. 

World Consumer Rights Day is celebrated on ?
  • a)
    5 March
  • b)
    10 March
  • c)
    15 March
  • d)
    20 March
Correct answer is option 'C'. Can you explain this answer?

The consumer movement marks 15th March with World Consumer Rights Day every year, as a means of raising global awareness about consumer rights and needs.

Pick odd one out :
  • a)
    Right to safety
  • b)
    Right to life
  • c)
    Right to consumer education
  • d)
    Right to representation
Correct answer is option 'B'. Can you explain this answer?

Amit Kumar answered
Of all the available fundamental rights, the most fundamental is the Right to Life. . Article 21 guarantees the protection of life and personal liberty to every individual and states that, "No person shall be deprived of his life and personal liberty except according to procedure established by law.

Assertion: Different persons can have different developmental goals.
Reason: World Bank classify countries on the basis of per capita income
  • a)
    Both A and R are true and R is the correct explanation of A
  • b)
    A is correct but R is wrong
  • c)
    Both A and R are true but R is not the correct explanation of A 
  • d)
    A is wrong but R is correct
Correct answer is option 'C'. Can you explain this answer?

Avinash Patel answered
Different persons have different developmental goals because different people live in totally different environments. The kind of environment that they live in governs their needs and aspirations. 
Clearly, the Reason that is given in the question doesn't justify the Assertion. Hence, the correct answer is option (C).

Assertion: Money act as a medium of exchange.
Reason: Law legalizes the use of money as a medium of exchange. 
  • a)
    Both A and R are true and R is the correct explanation of A.
  • b)
    Both A and R are true but R is not the correct explanation of A. 
  • c)
    A is correct but R is wrong
  • d)
    A is wrong but R is correct
Correct answer is option 'A'. Can you explain this answer?

Radha Iyer answered
Money helps to facilitate trade because people in the economy generally recognize it as valuable. Money is called medium of exchange because money is a widely accepted token that can be used for exchange of any good or service and law legalizes the use of money as a medium of exchange so this is the correct reason.

Service is
  • a)
    tangible
  • b)
    intangible
  • c)
    both (a) and (b)
  • d)
    physical Product
Correct answer is option 'C'. Can you explain this answer?

Yashika Singh answered
Intangible products and services include things like insurance policies, tax preparation services and cell phone service contracts. as i think option(b) is correct. hope it will help u:)

ISO stands for :
  • a)
    International Organization for Standardization
  • b)
    International Standards Organization
  • c)
    International School Organisation
  • d)
    International Standardisation
Correct answer is option 'A'. Can you explain this answer?

Raghav Bansal answered
ISO stands for International Organization for Standardization which is an international standard-setting body composed of representatives from various national standards organizations.

Globalisation will result in
  • a)
    more competition among producers
  • b)
    less competition among producers
  • c)
    no change in competition among producers
  • d)
    none of the above
Correct answer is option 'A'. Can you explain this answer?

Explanation:

Globalisation refers to the integration of economies, societies and cultures of different countries. It has a profound impact on the competition among producers. The correct answer to the given question is option 'A' i.e. more competition among producers. Let's understand why:

Reasons:

1. Increased market size: Globalisation increases the market size for producers as they can now sell their products to customers all over the world. This leads to more competition among producers as they are all vying for the same customers.

2. Lower trade barriers: Globalisation leads to the reduction of trade barriers between countries. Producers can now import and export goods more easily, which increases competition among producers as they are now competing with producers from other countries.

3. Advancements in technology: Globalisation has led to advancements in technology, which has made it easier for producers to produce and sell goods. This has increased competition among producers as they are now able to produce goods more efficiently and at a lower cost.

4. Increased access to capital: Globalisation has led to an increase in access to capital for producers. This has enabled them to invest in research and development, which has led to the creation of new and innovative products. This has increased competition among producers as they are now competing with producers who have access to the latest technology.

Conclusion:

In conclusion, globalisation has resulted in more competition among producers. This competition has led to innovations in products, lower prices for consumers and increased efficiency in production. However, it has also led to job losses in some sectors and increased inequality.

Can you explain the answer of this question below:

Human Development Index compares countries based on which of the following levels of the people?

  • A:

    Educational level

  • B:

    Health status

  • C:

    Per capita Income

  • D:

    All the above

The answer is D.

Ananya Das answered
The Human Development Index (HDI) is a composite statistic (composite index) of life expectancy, education, and per capita income indicators, which are used to rank countries into four tiers of human development. A country scores higher HDI when the lifespan is higher, the education level is higher, and the GDP per capita is higher. The HDI was developed by Pakistani economist Mahbub ul Haq for the UNDP.

Meaning of development is different for
  • a)
    different people
  • b)
    alien people 
  • c)
    same people
  • d)
    none of these
Correct answer is option 'A'. Can you explain this answer?

Anita Menon answered
No, development is different from different people. For example, we take a person who has some job. If he gets good job than existing job it is development for him. If a business man gets profits in marketing it is development for him. Development is not only increasing technology, becoming richer or etc.

Consumer Complaint forum is called ?
  • a)
    Consumer forum
  • b)
    RTI
  • c)
    High court
  • d)
    Police Station
Correct answer is option 'A'. Can you explain this answer?

Anjana Khatri answered
The consumer movement in India has led to the formation of various organisations locally known as consumer forums or consumer protection councils.

Following are the importance or functions of consumer forums

(i) They guide consumers on how to file cases in the consumer court.

(ii) On many occasions, they also represent individual consumers in the consumer courts.

(iii) These voluntary organisations also receive financial support from the government for creating awareness among the people.

(iv) It works for the protection of the consumer rights.

(v) It imparts knowledge about consumer rights by writing articles and getting it published in newspaper.

MCQ (Multiple Choice Questions) for Practice with Solutions of Chapter "Consumer Rights" of Economics (Understanding Economic Development) of Class 10 SST (Social Science Studies)
 
Q. A consumer :
  • a)
    Sells goods and services
  • b)
    Buy goods and services
  • c)
    Produces goods and services
  • d)
    Delivers goods and services
Correct answer is option 'B'. Can you explain this answer?

Pooja Shah answered
The consumer is the one who pays something to consume goods and services produced. As such, consumers play a vital role in theeconomic system of a nation. Without consumer demand, producers would lack one of the key motivations to produce: to sell to consumers. The consumer also forms part of the chain of distribution.

Development of a country can generally be determined by its:
  • a)
    Per capita income
  • b)
    Average literacy level
  • c)
    Health status of its people
  • d)
    All of these
Correct answer is option 'D'. Can you explain this answer?

Development of a country can be measured by any of these parameters. Throughout the world, health and education indicators along with income are used as a measure of development. Hence all 3 are parameter that determine the development level of a country.
Hence, The correct answer is D.

Converting iron ore to steel is a part of
  • a)
    primary activity 
  • b)
    secondary activity
  • c)
    tertiary activity
  • d)
    all of these
Correct answer is option 'B'. Can you explain this answer?

All industrial and manufacturing work comes under secondary sector and activities and converting iron ore to steel is an industrial activity. Hence it comes under secondary activity.

The service sector includes activities such as:
  • a)
    agriculture, dairy, fishing and forestry
  • b)
    making sugar, gur and bricks
  • c)
    transport, communication and banking
  • d)
    None of these
Correct answer is option 'C'. Can you explain this answer?

Diana Nair answered
Service sector is also called as tertiary sector.It helps other two sector by providing them services like transport, communication, banking etc..
So the answer is C

The sectors are classified into public and private sector on the basis of:
  • a)
    Employment conditions
  • b)
    The nature of economic activities
  • c)
    Number of workers employed
  • d)
    Ownership of enterprises
Correct answer is option 'D'. Can you explain this answer?

Radha Iyer answered
Industries in the public sector are owned by the government while those in the private sector are owned by entrepreneurs.

In Public sector, the government owns most of the assets and provides all the services.In the Private sector, ownership of assets and delivery of services is in the hands of private individual or companies.

COPRA does not propose formation of :
  • a)
    National Consumer Court
  • b)
    State Consumer Court
  • c)
    District Consumer Court
  • d)
    High Court
Correct answer is option 'D'. Can you explain this answer?

Ananya Das answered
Copra is a rule regarding the protection of consumers from the violence it doesn't propose the formation of high court because

1) high court deals with the criminal and it is a criminal court
2) there are very no of cases pending in the high court
3) as a consumer doesn't want to file case in any criminal court because there decisions came very long and the could not get the redressal at time
4) for fighting their case a person must need his or her personal lawyer which could cost much
5) for awaring consumers consumer society or consumer court Is needed so that they get their redressal and could get justice

Which organization publishes the Human Development Report:
  • a)
    WHO
  • b)
    UNDP
  • c)
    WTO
  • d)
    IMF
Correct answer is option 'B'. Can you explain this answer?

Subham Ghosh answered
The correct answer is option 'b' - UNDP.

Explanation:

The Human Development Report (HDR) is published by the United Nations Development Programme (UNDP). Let's understand what the UNDP is and why it publishes the Human Development Report.

1. United Nations Development Programme (UNDP):
- The UNDP is the United Nations' global development network.
- It works in around 170 countries and territories, aiding them in eradicating poverty, reducing inequalities, and achieving sustainable development.
- UNDP provides expertise, advice, and financial assistance to implement projects and initiatives related to development.

2. Human Development Report (HDR):
- The Human Development Report is an annual publication by the UNDP.
- It was first published in 1990 and has been released every year since then.
- The report focuses on human development, which goes beyond measuring economic growth and includes aspects like education, healthcare, standard of living, and overall well-being of individuals.

Why does UNDP publish the Human Development Report?

1. Measure of Human Development:
- The HDR provides a comprehensive measure of human development in different countries.
- It assesses and ranks countries based on the Human Development Index (HDI), which takes into account indicators like life expectancy, education, and income.
- By measuring human development, the report helps policymakers identify areas of improvement and prioritize policies that can enhance the well-being of people.

2. Policy Recommendations:
- The HDR offers policy recommendations and analysis on various development issues.
- It highlights challenges and opportunities for sustainable development, poverty reduction, gender equality, and other critical global issues.
- The report aims to influence governments, policymakers, and stakeholders to take action and implement policies that foster human development.

3. Global Development Dialogue:
- The HDR serves as a platform for global development dialogue.
- It provides a space for experts, policymakers, and the public to discuss and debate key development issues.
- The report contributes to raising awareness and understanding of human development challenges and fosters a global conversation on addressing them.

In conclusion, the United Nations Development Programme (UNDP) publishes the Human Development Report (HDR) to provide a comprehensive measure of human development, offer policy recommendations, and facilitate global development dialogue.

Causes of consumer exploitation ?
  • a)
    Right to Information
  • b)
    Proper Supply
  • c)
    Low literacy
  • d)
    High literacy
Correct answer is option 'C'. Can you explain this answer?

Rajiv Gupta answered
Consumer exploitations is a situation in which a consumer in cheated or given false information by the producer. The factors which causes exploitation of consumers are:
(i) Limited information Consumers have limited
information about their rights and duties. Therefore, they get exploited by dishonest sellers.
(ii) Low Literacy and awareness The lack of knowledge about the quality or prices of various products or illiteracy causes exploitation of consumers.
(iii) Limited competition Markets do not work in a fair manner when producers are few and powerful and consumer and scattered and purchase less.

What is the primary characteristic that differentiates the tertiary sector from the primary and secondary sectors?
  • a)
    It produces goods
  • b)
    It provides support and services
  • c)
    It focuses on agriculture
  • d)
    It manufactures products
Correct answer is option 'B'. Can you explain this answer?

Nk Classes answered
The tertiary sector is unique because it provides services and support rather than producing goods. For example, transportation and retail services support the distribution of goods produced by the primary and secondary sectors.

Adulteration is :
  • a)
    Selling defective items
  • b)
    Overpricing
  • c)
    Underweight measurement
  • d)
    Mixing cheap materials
Correct answer is option 'D'. Can you explain this answer?

Amit Kumar answered
Adulteration is a legal term meaning that a food product fails to meet the legal standards. One form of adulteration is an addition of another substance to a food item in order to increase the quantity of the food item in raw form or prepared form, which may result in the loss of actual quality. Food is adulterated if it omits a valuable constituent or substitutes another substance, in whole or in part, for a valuable constituent ; conceals damage or inferiority in any manner ; or any substance has been added to it or packed with it to increase its bulk or weight, reduce its quality or strength, or make it appear bigger or of greater value than it is

Pick odd one out :
  • a)
    Right to information
  • b)
    Right to choice
  • c)
    Right to adulteration
  • d)
    Right to redressal
Correct answer is option 'C'. Can you explain this answer?

Kiran Mehta answered
Right to adulteration aims at standardizing. The awareness of being a well-informed consumer which arose out of consumer movement has also shifted the responsibility of ensuring quality of goods and services on the sellers.

Pick the odd one out :
  • a)
    BIS and ISI
  • b)
    ISO
  • c)
    HALLMARK
  • d)
    CID
Correct answer is option 'D'. Can you explain this answer?

Raghav Bansal answered
The other three are name of the important signs or marks to look on various objects for assurance of quality.

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